Correspondent, Chicago
James's Feed
Nov 15, 2013

Caterpillar to close another mining equipment plant

CHICAGO (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) said on Friday that it will close another plant and lay off 240 additional workers as it continues to respond to a sharp drop in demand for its earth-moving products from customers in the mining industry.

The planned shutdown of the Pulaski, Va. facility, which makes coal haulers and other equipment, is expected to be completed by mid-2014. It is the latest in a series of such closures announced by the Peoria, Ill-based heavy equipment maker.

Nov 3, 2013

U.S. manufacturers refashion themselves as ‘lifestyle brands’

CHICAGO, Nov 3 (Reuters) – Call it concealed-carry chic:
With all 50 U.S. states now permitting people to pack pistols in
public, it was only a matter of time before some company came to
market with an apparel line targeting the gun-toting crowd.

Remington Arms Co , which has been making
firearms for nearly 200 years, has just unveiled a collection of
clothing and accessories, including the “Smoothbore Field Coat”
($1,295) and the “Double Derringer Leather Vest” ($300).

Oct 29, 2013

Cummins misses, cuts outlook on mining, India weakness

CHICAGO, Oct 29 (Reuters) – Cummins Inc, the U.S.
maker of engines and other vehicle components, reported
lower-than-expected quarterly profit on Tuesday and cut its
full-year outlook, citing weak sales to most of the industries
its serves, including mining.

The news sent Cummins shares tumbling as much as 9.2
percent.

The Columbus, Indiana-based company said sales of all its
products had also contracted sharply in India in the most recent
quarter as a result of declining business confidence and
manufacturing activity there.

Oct 24, 2013

Timken shares drop on lower profit, latest outlook cut

Oct 24 (Reuters) – Timken Co reported a
lower-than-expected quarterly profit on Thursday and cut its
full-year outlook yet again, citing a “slower-than-expected
economic recovery” that it said had depressed demand for its
ball bearings and specialty steel across all markets.

The news sent the company’s shares skidding as much as 11
percent on Thursday morning on the New York Stock Exchange.

Oct 23, 2013

Caterpillar posts lower results, cuts outlook again

CHICAGO, Oct 23 (Reuters) – Caterpillar Inc posted a
lower-than-expected quarterly profit on Wednesday and cut its
full-year forecast yet again as weak demand from mining
customers continued to bedevil the heavy equipment maker.

The Peoria, Illinois-based company also provided its first
forecast for 2014 sales, saying it expects essentially flat
results to up or down 5 percent compared with 2013.

Oct 22, 2013

Caterpillar dealer report offers little hope for third-quarter earnings

CHICAGO (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) released unaudited dealer sales data on Tuesday – one day ahead of its scheduled third-quarter earnings – that showed continued weak demand for its machinery and engine products.

The Peoria, Illinois-based company, the world’s largest maker of construction and mining equipment, said global dealer sales of its yellow earthmoving machines were down 9 percent year-over-year in September.

Oct 22, 2013

Caterpillar dealer report offers little hope for 3rd-qtr earnings

CHICAGO, Oct 22 (Reuters) – Caterpillar Inc released
unaudited dealer sales data on Tuesday – one day ahead of its
scheduled third-quarter earnings – that showed continued weak
demand for its machinery and engine products.

The Peoria, Illinois-based company, the world’s largest
maker of construction and mining equipment, said global dealer
sales of its yellow earthmoving machines were down 9 percent
year-over-year in September.

Oct 22, 2013

Harley-Davidson profit rises; shipment forecast unchanged

Oct 22 (Reuters) – Harley-Davidson Inc reported
higher quarterly earnings on Tuesday, lifted by the normal
summer surge in motorcycle sales in its key North American
market, but it kept the full-year forecast for its global
shipments unchanged.

The Milwaukee-based company posted a third-quarter profit of
$162.7 million, or 73 cents a share, up from $134.0 million, or
59 cents a share, a year earlier.

Oct 21, 2013

Analysis: U.S. ‘war on coal’ may be good fight for some manufacturers

CHICAGO (Reuters) – When the Obama administration unveiled new emission regulations for coal-fired power plants earlier this year, the National Association of Manufacturers (NAM) blasted the proposed rules, saying they would hurt its members “twice” – as energy users and as polluters “next in line” for such rules.

Last Tuesday, a NAM-supported effort to challenge the rules cleared an important hurdle when the U.S. Supreme Court agreed to hear arguments in the case. The regulations, which critics call a “war on coal,” will cost industry “tens of billions of dollars per year,” according to the petition to the high court.

Oct 21, 2013

US ‘war on coal’ may be good fight for some manufacturers

CHICAGO, Oct 21 (Reuters) – When the Obama administration
unveiled new emission regulations for coal-fired power plants
earlier this year, the National Association of Manufacturers
(NAM) blasted the proposed rules, saying they would hurt its
members “twice” – as energy users and as polluters “next in
line” for such rules.

Last Tuesday, a NAM-supported effort to challenge the rules
cleared an important hurdle when the U.S. Supreme Court agreed
to hear arguments in the case. The regulations, which critics
call a “war on coal,” will cost industry “tens of billions of
dollars per year,” according to the petition to the high court.